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Leokris [45]
3 years ago
14

What is true about the payments with closed-end credit?

Business
1 answer:
denis-greek [22]3 years ago
8 0

Answer:

C)They remain the same until the credit is paid off.

Explanation:

In a closed-end credit, borrower and lender agree on principal amount, interest rate and monthly payments. These features stay the same over time.

The most common types of closed-end credit are mortgages and car loans.

For example, if a person wants to buy a car on credit, they agree to pay a monthly amount, that includes both interest and principal payments, until the full amount is paid off in a specified date in the future. After the last payment, the right to ownership of the car is transferred from the borrower to the lender, closing the credit.

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Answer:

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Transmission of Diseases. ...

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etc.

4 0
3 years ago
C) It is generally agreed that the government must provide public goods.
stich3 [128]
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8 0
2 years ago
Record the following transactions of Fashion Park in a general journal. Fashion Park must charge 8 percent sales tax on all sale
skelet666 [1.2K]

Given :

Apr-02  :

Cash = 2700

Sales  = 2500

Sales Tax Payable  = 200  

Apr-03 :

Sales returns and allowances  = 250

Apr-04:

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Apr-06:

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8 0
3 years ago
The impact of inflation in businesses​
levacccp [35]

Answer:

Rapidly rising prices not only affect the price consumers pay, they also affect the cost businesses have to pay for materials and inventory. When replacement inventory costs more than the inventory you just sold, it can lead to inventory shortages.

Explanation:

I hope it helped

4 0
2 years ago
On January 1, DogMart Company purchased a two-year liability insurance policy for $22,800 cash. The purchase was recorded to Pre
GarryVolchara [31]

Answer:

Adjusting Entry

Date             Accounts/ Description          Dr.        Cr.

January 31   Insurance Expenses            $950

                    Prepaid Insurance                            $950

Explanation:

On January 1 insurance purchased will be considered as the prepaid insurance and it is for 2 years ( 24 months ). On January 31 one month's insurance expense has been accrued and it should be recorded and balance for this accrual should be transferred from prepaid insurance to insurance expense account.

Insurance paid =  $22,800

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7 0
3 years ago
Read 2 more answers
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